US stocks hit a five-week low as a warning of potential Fitch downgrades sent bank shares lower, Beijing is making one of its biggest top-down efforts in years to tackle the debts racked up by local governments, and a year after passage of the US Inflation Reduction Act and Chips Act the vast majority of investment is going to red states. Mentioned in this podcast: US and European stocks hit five-week lows after strong retail sales data China sends finance experts to tackle regions’ debts ...
Aug 16, 2023•10 min•Transcript available on Metacast A surprise election result in Argentina spooked markets, iPhone manufacturer Foxconn is trying to pivot to India, and it looks like there’s a US regulatory crackdown looming for the sustainable investing world. Mentioned in this podcast: Argentina’s markets roil after shock primary election results iPhone maker Foxconn’s cautious pivot to India shows limits of ‘China plus one’ UBS pays $1.4bn to settle US mortgage bond mis-selling case SEC lawyers subpoena fund managers over ESG disclosure...
Aug 15, 2023•8 min•Transcript available on Metacast The rouble has fallen to a 16-month low against the dollar, airlines have joined forces with farmers to lobby in Washington so that corn helps power their planes, and growing demand for minerals used in green technology is starting to shake up the geopolitics of the energy world. Mentioned in this podcast: Rouble hits 16-month low as military spending rises and exports fall US airlines ally with farmers to seek subsidies for corn as jet fuel The new commodity superpowers The FT News Briefi...
Aug 14, 2023•9 min•Transcript available on Metacast In the final episode of this Tech Tonic season, FT correspondents weigh in on the trends that will determine the future of social media. From Meta’s Threads to artificial intelligence, we ask how platforms will look and feel in years to come. The FT’s deputy Lex editor, host Elaine Moore, speaks with social media reporter Cristina Criddle, global technology correspondent Tim Bradshaw and San Francisco-based tech reporter Hannah Murphy. Plus, we hear from Evan Henshaw-Plath, one of the creators o...
Aug 12, 2023•21 min•Transcript available on Metacast Iran has transferred five US citizens from prison to house arrest, US headline inflation in July rose slightly from June, and in Mexico the influence of the military has grown dramatically. Mentioned in this podcast: Iran transfers five imprisoned Americans to house arrest US inflation edges up to 3.2% in July The militarisation of Mexico’s economy FT Weekend festival promo code: FTPodcast Looking for a fresh perspective on the news? Meet FT Edit - the new app from the Financial Times. FT ...
Aug 11, 2023•9 min•Transcript available on Metacast Walt Disney reported quarterly results that showed declines at its television and movie businesses, China’s economy has fallen into deflation, and President Joe Biden is banning US tech investment in China. Plus, the FT’s Owen Walker explains why more and more countries in Europe are instituting windfall taxes on banks. Mentioned in this podcast: Disney shares jump after streaming losses narrow Chinese economy falls into deflation as recovery stumbles White House unveils ban on US investme...
Aug 10, 2023•9 min•Transcript available on Metacast The UK government is pushing back against an attempt by some members of the House of Lords to close loopholes in transparency legislation, US bank stocks fell after Moody’s cut the credit ratings of 10 midsized banks, and the FT’s Jamie Smyth explains the craze behind new weight-loss drugs. Mentioned in this podcast: UK government resists moves to tighten corporate transparency rules Weak bank stocks weigh on US and European markets Novo Nordisk’s obesity drug cuts risk of strok...
Aug 09, 2023•9 min•Transcript available on Metacast Meta has axed a team that used artificial intelligence to create the first database of more than 600mn protein structures, and PayPal is launching a stablecoin. Plus, the FT’s Henry Foy explains why it’s so difficult for the EU to admit new members, Ukraine in particular. Mentioned in this podcast: Meta disbands protein-folding team in shift towards commercial AI PayPal pushes deeper into crypto payments with stablecoin launch The ‘monumental consequences’ of Ukraine joining the...
Aug 08, 2023•9 min•Transcript available on Metacast Private equity firms are increasingly offering sweeteners such as fee discounts to secure backing from deep-pocketed investors, US banks are still relying on hundreds of billions of dollars in government financing, and Latin America’s central banks have started cutting interest rates. Mentioned in this podcast: Private equity firms offer sweeteners in struggle to lure reluctant investors Britain’s investors shy away from UK defence companies Regional lenders struggle to get off government ...
Aug 07, 2023•9 min•Transcript available on Metacast Can we get rid of the bad bits of social media and keep the good? Is it possible to create a more positive social media experience than the one we get from the platforms that dominate the landscape today? In this episode, Elaine Moore asks what the social media platforms of the future should look like, and whether platforms designed for smaller groups of users with shared interests are the way forward. We hear from writer and tech historian Benj Edwards about the BBS era of t...
Aug 05, 2023•26 min•Transcript available on Metacast Stronger than expected online sales helped Amazon beat Wall Street expectations for last quarter, and the Bank of England raised interest rates for the 14th time in a row. Plus, the FT’s Christopher Miller explains the strategy behind a series of drone attacks on Moscow. Mentioned in this podcast: Amazon’s cost-cutting and online sales lift earnings Apple profits rise as services arm surpasses 1bn users Bank of England raises interest rates by 0.25 percentage points Treasury yields keep climbing...
Aug 04, 2023•10 min•Transcript available on Metacast Investors are increasing their bets that Europe will sink into a painful economic downturn, and luxury groups are bracing for the end of the post-pandemic recovery boom. Plus, the FT’s Tokyo bureau chief Kana Inagaki explains why Nissan’s focus on regaining ground in China might be a bit of an uphill battle. Mentioned in this podcast: Investors turn gloomy over Europe’s economic outlook Luxury sector slows after ‘bonkers’ post-pandemic spending spree Why Nissan’s woes in China are n...
Aug 03, 2023•9 min•Transcript available on Metacast US prosecutors have charged Donald Trump in connection with his attempts to overturn the results of the 2020 election, Uber reported its first operating profit, and Fitch Ratings has cut the US debt rating from triple A to double A plus. Plus, the US Federal Reserve has become a target for Republican presidential candidates. Mentioned in this podcast: Donald Trump indicted over attempt to overturn 2020 election Uber makes first operating profit after racking up $31.5bn of losses Fitch stri...
Aug 02, 2023•10 min•Transcript available on Metacast Rising stock prices and falling bond yields in the US have essentially neutralised the impact of the Federal Reserve’s interest rate rises, western oil and gas majors are expected to face renewed scrutiny of their energy transition plans, and China’s metals and mining investments overseas are on track to hit a record this year. Plus, the private equity owners of German sandal maker Birkenstock are considering an initial public offering of the company. Mentioned in this podcast: US stocks n...
Aug 01, 2023•9 min•Transcript available on Metacast The Bank of Japan announced that it’s going to allow bonds to rise more freely, and China’s politburo has signalled several target measures meant to boost the country’s economy. Plus, the FT’s Attracta Mooney explains how more frequent heat waves will impact several different industries and the economy as a whole. Mentioned in this podcast: Investment flows poised for historic shift after ‘giant leap’ by Bank of Japan What China’s economic measures mean in practice How an era of extre...
Jul 31, 2023•10 min•Transcript available on Metacast Social media today is less about making friends and more about following popular content creators. While those creators are starting to hold some power over the platforms themselves, they’re also looking to become less reliant on the platforms that have enabled them to find fame and fortune online. What does it mean for the future of social media platforms? Our producer Josh Gabert-Doyon travels to the VidCon convention in Anaheim, California to speak to the people at the heart of the creator ec...
Jul 29, 2023•27 min•Transcript available on Metacast The European Central Bank has raised interest rates back to their record high, and US bank regulators have advanced plans to impose more arduous capital requirements on the country’s large lenders. Plus, the FT’s Elaine Moore says the Twitter/X rebrand doesn’t make sense, but that’s kind of the whole point. Mentioned in this podcast: ECB raises interest rates back to record high Regulators announce ‘Basel III endgame’ rules for large US banks Twitter/X: maverick rebrand leaves Musk with a ...
Jul 28, 2023•9 min•Transcript available on Metacast The Federal Reserve raised its benchmark interest rate by a quarter of a percentage point, Facebook parent Meta returned to double-digit revenue growth for the first time since the end of 2021, and US federal prosecutors charged British billionaire Joe Lewis with 19 counts related to insider trading. Plus, China’s foreign minister Qin Gang vanished a month ago and was not replaced until this week. Mentioned in this podcast: Federal Reserve raises US interest rates to highest level in 22 years Fa...
Jul 27, 2023•9 min•Transcript available on Metacast Alphabet earnings beat expectations, a new report from the IMF says the future of the global economy is looking a little brighter than it did a few months ago, and the troubled regional bank PacWest has agreed to merge with Banc of California. Plus, the FT’s James Shotter explains the role Israeli businesses are playing in protesting the country’s judicial reforms. Mentioned in this podcast: Alphabet revenue beats forecasts on robust digital ad performance IMF upgrades forecasts but warns ...
Jul 26, 2023•9 min•Transcript available on Metacast Credit Suisse has been fined $388mn by US and British regulators, and Spain is facing an uncertain political future as the right and left failed to secure a clear path to forming a government. Plus, Top US consultancies are struggling to attract business in China as Beijing’s national security raids scare away local clients. Mentioned in this podcast: Credit Suisse fined $388mn over Archegos collapse Spain faces uncertain political future after election deadlock Work dries up for US consultancie...
Jul 25, 2023•9 min•Transcript available on Metacast America’s risky corporate loan market has been hit by the biggest slew of downgrades since the depths of the Covid crisis in 2020, and European banks with large retail arms are expected to report big second-quarter profits. Plus, the FT’s sports editor Josh Noble explains why the commercial rollout of the Women’s World Cup has been so disappointing. Mentioned in this podcast: US junk loan market hit with flurry of credit rating downgrades UK banks share more of the benefits of interest rat...
Jul 24, 2023•9 min•Transcript available on Metacast There’s a growing feeling that social media is bad for us: bad for society and bad for our wellbeing. That trend has culminated in a new wave of legislation in the United States aiming to address social media’s impact on young people’s mental health. But in this episode, Elaine Moore, deputy editor of the FT’s Lex column, looks at some of the unanswered questions over whether social media really causes us harm, and what legislation will mean for the future of the social media business model. Are...
Jul 22, 2023•26 min•Transcript available on Metacast The Nasdaq Composite had its biggest one-day drop in more than four months, the winner of Thailand’s general election has been suspended from parliament, and the FT’s Clive Cookson tells us about two huge breakthroughs in the treatment of Alzheimer’s. Mentioned in this podcast: Nasdaq drops more than 2% after Netflix and Tesla results disappoint Thai election winner blocked from premiership Eli Lilly drug shown to slow Alzheimer’s progression The FT News Briefing is produced by Fiona Symon...
Jul 21, 2023•9 min•Transcript available on Metacast A crackdown on password sharing helped Netflix add nearly 6mn subscribers, UK inflation fell to a 15-month low of 7.9 per cent in June, Ukraine’s armed forces are having a hard time with Russian mines and Spain’s Sunday election could mean the end of Pedro Sánchez’s time as prime minister. Mentioned in this podcast: Netflix’s password-sharing crackdown pays off with nearly 6mn new subscribers UK inflation falls more than expected to 7.9% in June Could the UK inflation crisis be at a turnin...
Jul 20, 2023•10 min•Transcript available on Metacast Big investment banks are turning more bearish on the dollar, and Europeans struggle with a near-record heatwave. Plus, the FT’s Anastasia Stognei explains why Russia is starting to seize assets from food and beverage companies. Mentioned in this podcast: Kremlin oligarchs circle Danone and Carlsberg’s Russian assets Wall Street banks ditch bullish dollar bets over ‘soft landing’ hopes Scorching Europe struggles to adapt to near-record temperatures Carlos Ghosn says he filed $1bn lawsuit so...
Jul 19, 2023•9 min•Transcript available on Metacast Thames Water’s biggest investor slashed the value of its stake last year, Ford’s steep price cut for its electric pick-up truck rattled shareholders and BlackRock will offer retail investors more of a voice in its biggest exchange traded fund. Plus, the FT’s Thomas Hale unpacks what’s ailing China’s economy. Mentioned in this podcast: Thames Water’s biggest investor cut value of its stake by 28% Does Xi Jinping need a plan B for China’s economy? Ford shares sink after steep price cut...
Jul 18, 2023•9 min•Transcript available on Metacast The EU wants other polluting nations to cut emissions faster. Three of the largest US banks reported a surge in profits last week from charging more for loans as more US banks report this week. Plus the FT’s political editor, George Parker, examines how the UK conservative party might squeeze out a win during the country’s next general election. Mentioned in this podcast: ‘We are on for a massive defeat’: can the Tories prevent the inevitable? Large US banks reap bumper profits on Federal Reserv...
Jul 17, 2023•10 min•Transcript available on Metacast Mark Zuckerberg used advertising to turn Facebook into the first global social media giant, boasting 3bn users around the world. But today there are questions about the business model that has powered it for the past 15 years, and what Zuckerberg’s new focus on building the Metaverse means for the platform that started it all. Elaine Moore speaks to veteran Silicon Valley investor Roger McNamee, one-time advisor to Zuckerberg; writer and researcher Tim Hwang, author of Subprime Attention Crisis;...
Jul 15, 2023•27 min•Transcript available on Metacast The UK government has invited Saudi Crown Prince Mohammed bin Salman to London, and US regulators are going after the company behind ChatGPT. Plus, the FT’s Beijing bureau chief, Joe Leahy, explains how China’s youth are dealing with high levels of unemployment. Mentioned in this podcast: ChatGPT maker investigated by US regulators over AI risks Prince Mohammed bin Salman invited to visit UK in autumn Rachman Review: Will this year’s climate talks be a washout? China’s youth left beh...
Jul 14, 2023•8 min•Transcript available on Metacast US inflation fell sharply to 3 per cent in June, the $1.35tn US junk bond market has shrunk by almost $200bn since its all-time peak in late 2021, and tensions started to boil over during Nato’s two-day summit. Mentioned in this podcast: US inflation slows to 3% as interest rate rises bite US junk bond market shrinks as rising rates put off borrowers ‘We’re not Amazon’: tensions with Ukraine surface at Nato summit The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filip...
Jul 13, 2023•10 min•Transcript available on Metacast 
